But this is set to shift over the next five years, eMarketer forecasts, as consumers warm up to smart tech and retailers continue IoT investment.

By Lauryn ChamberlainMar 14, 2017 11:19AM

Despite excitement at major industry events from CES to Retail Week, it appears that wearables haven’t truly caught on with consumers — at least, not yet.

According to an eMarketer report based on polling from AYTM Market Research, approximately 75 percent of internet users over the age of 18 have never purchased smart clothing or wearable devices. Comparatively, 18 percent own one device, and only 8 percent own multiple.

With the wearables market having fallen somewhat short of projections, does this mean that what was set to be a mass industry is merely a fad unlikely to gain traction? Not necessarily. It simply means that industry excitement may still be ahead of consumer readiness.

Secondly, both consumer and retailer spending in the IoT category is still set to increase over the next five years. Nearly half of AYTM survey respondents who hadn’t purchased wearables said they planned or expected to in the next five years. Additionally, Zebra Technologies’ 2017 Retail Vision study found that 70 percent of retailers are investing in IoT technologies in a bid to improve the in-store shopping experience.

“Every inch of the retail industry is changing,” said Jeff Schmitz, CMO at Zebra. “Retailers [must be] poised to meet and exceed customer expectations with new levels of personalization, speed and convenience.”